The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-06-25
IN THE M.ARTS OF TRADE.
DUN 81 CO., REVIEW THE DEvEL,-
OPMENTS OF THE WEEK.

Wall Streets FURRY Too Late to be
Included in the Retrospect - The
Strinsency in Money in the Big Cities
Not Difficult to Relieve.
New YoRK, June PAR. G. Dun g. Co.
report the business failures occurring
throughout the country during the last
week as follows; For the United States III
and Canada 26, or a total of 1877, against 213
last week, and 175 the week previous. In
the corresponding week of last year there
were 1862 failures, 19S being in the United
States and "a in Canada.
Dun g. Co. s weekly review of trade for
the week ending to-day says: 1.-THE with
drawal of funds from New York to meet
immediate needs at the West has caused a
temporary stringency here which specula-
tors have magnifed but foreign exchange
is so near the shipping point and the supply
of unusued funds abroad is SO large that re-
lief would come quickly If the needs here
should become serious, Moreover, large
disbursements by the Treasury in July are
now close at hand.
SOME PRESSURE.
In the half yearly settlement, in the
struggle to liquidate enormous speculation,
and in preparations for summer dullneSs,
however, there may be some pressure for
money during the remaining days of June.
The Treasury has paid out 100000 more
money than it has taken in this week, be-
sides increasing its deposits with banks
about 100000. At nearly every other
point money is reported in good supply, but
Chicago exchange on New York is at 75c
discount, demands from st. Louis are also felt
and money is rather close at Cleveland with
exchange scarce, and firm at Milwaukee.
Cincinnati banks were generally well sup
piled, having anticipated trouble, but the
extent of the rottenness in the Fidelity was
not realized and some trouble for its stock
holders under the double liability law is
now apprehended.
ENCOURAGING REPORTS.
The general reports of business at nearly
all points are highly encouraging. No
trouble from the wheat collapse is reported
except at points already named, and the in
creasing prospect of good crops adds to the
prevailing confidence. Collections are gen
orally fair or good, and the volume of bust
nese large for the season. Liquidation in
cotton proceeds slowly, but prices have de-
clined * for the week, with sales of about
500, 900 bales. Settlements are proposed by
the broken firms in coffee.
wHEAT's COLLAPSE.
Wheat has fallen about &C., though par
tial oorner in June still makes quotations
here &c. or more above those for July.
Pork products yield little though still
held at Chicago above the level elsewhere.
In the stock market liquidation has been
failure, though declines have not been
large or rapid. Distrust of parties and Sc
curities thought to be even remotely con-
nected with Cincinnati speculation is OBJ
vious and there is less confidence as to the
effects of the interstate act.
Shipment by lake and canal is reported
and the enforcement of the law threatens TO
stop manufacturing and mining at numer-
Gus points Under all circumstances the
strength Of the market is suppressing,
especially when it is remembered that new
securities for several hundred millions have
been listed this year.
THE IRON MARKET.
The iron market waits the outcome OF
the labor contests The coke strike has not
entirely ended and Pittsburg employers
have voted to reject the demand for an
increase of wages, estimated at Is per cent.
Railroad building seems to have been
checked a little, but the present demand for
most iron and steel products seems better.
The ASSOCIATION protests to the Treasury
against under valuations and recent classi-
fications, under which the imports Of iron
have been heavy. Other labor contests are
disappearing. The Chicago bricklayers and
Worcester shoemakers abandon their de
mands Real estate at the West is still I'M
usually active, and though the bloom is oil
the boom, so TO speak, no visible reaction IN
prices are to be expected at present"